Euro-Area Debt Levels Surge to Record, Led by Greece
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Government debt in the euro area surged to the highest levels since the introduction of the single currency, underscoring the challenges still confronting the 19-nation bloc as it wrestles with Greece over new aid payments.
Greece’s debt pile swelled to a new high of 177.1 percent of gross domestic product at the end of 2014, up from 175 percent a year earlier, the European Union’s statistics office in Luxembourg said today. For the euro zone as a whole, government debt rose to a record 91.9 percent of GDP last year from 90.9 percent in 2013.